House For Sale £475,000
Richmond Street, Brighton

FOR SALE BY AUCTION on 28th June 2023

Auction Guide Price £475,0000

Freehold residential investment comprising of 2 self contained flats as follows:

Ground Floor Flat
Completely self contained with own private street entrance and garden currently let via an Assured Shorthold Tenancy at £1,000 pcm that expired on 17th April 2022.

First Floor Flat
Completely self contained with own private street entrance and garden currently let via an Assured Shorthold Tenancy at £1,000 pcm that expired on 24th February 2022.

Total current rent per annum is £24,000 however in the opinion of the auctioneers, the rent is significantly below market value and has the potential to be increased to an amount much closer to that of £1,500 pcm per flat providing for £36,000 per annum and a yield, based on the guide price, of 7.6%